About Ketchup
Ketchup is a savory sauce used as both a meal condiment as well as an ingredient. The tomato ketchup is the best known type of ketchup. Moreover, the ketchup is used as a dressing or table condiment to be consumed with chips, burgers, etc. and is cold never heated as a rule. The global ketchup market is expected to witness a high growth over forecast period owing to changing dietary habits, inclination towards western lifestyle & culture, and augmented consumption of exotic flavours of ketchup. However, the presence of various ketchup alternatives in the market and low consumption of foods containing sugar are the factors hampering the market growth.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Competition among existing players is due to the Ketchup market share occupied by leading players. The industry leader is engaged in offering innovative and superior quality products to cater to the ever-growing demand for Ketchup Market. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Ketchup market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Nestle (Switzerland), ConAgra Foods (United States), Del Monte Foods (United States), Kraft Heinz (United States), Hindustan Unilever (India), General Mills (United States), Annie's Homegrown (United States), Bolton Group (Italy), Mutti (Italy) and Campbell Soup Company (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Kagome (Japan), Red Duck Foods (United States) and Cofco Tunhe (China).
Segmentation Overview
AMA Research has segmented the market of Global Ketchup market by Type (Tomato Ketchup, Mushroom Ketchup, Mustard Ketchup, Fruit & Nut Ketchup and Other) and Region.
On the basis of Type, Tomato Ketchup are dominating the market in the year 2023 where as Mustard Ketchup stood as second largest market share.
On the basis of geography, the market of Ketchup has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, Switzerland, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. Europe, on the other hand, stood as the second largest market due to the presence of key companies in the region and high technological advancement. If we see Market by Distribution Channel, the sub-segment i.e. Specialty Stores will boost the Ketchup market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Food Services will boost the Ketchup market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
The Rising Demand for Organic Ketchup and Changing Life Style Along With Eating Habits
Market Growth Drivers:
Increasing Demand for Healthier Ketchup Varieties and Augmented Inclination towards Exotic Flavors of Ketchup
Challenges:
Threat of Low Price Substitutes Offered by Local Players and Intense Competition Among the Players
Restraints:
Presence of Numerous other Condiments
Opportunities:
Rising Adoption of Western Lifestyle and Culture and Increase in Demand from Emerging Economies
Market Leaders and their expansionary development strategies
In August 2022, Del Monte Foods, Inc. concluded the acquisition of Kitchen Basics®, a renowned range of convenient stocks and broths previously owned by McCormick & Company. As Del Monte expands its national retail footprint in this category, Kitchen Basics® will become a valuable addition to the company's brand portfolio.
In February 2022, Kraft Heinz Company and Google revealed a fresh strategic partnership, designed to bolster Kraft Heinz's unwavering commitment to comprehending its consumers and providing them with the products, experiences, and news they desire the most. Through this multi-year collaboration, Kraft Heinz will leverage Google Cloud's data and analytics technologies to gain valuable insights. Additionally, the partnership will enhance Kraft Heinz's full-funnel marketing strategy by utilizing Google Ads, facilitating the company's digital transformation as consumer behavior continues to evolve in the online space.
The Food Safety Modernization Act (late 2010/early 2011) directs the federal Food and Drug Administration (FDA) to regulate the on-farm handling and packaging of fresh fruits, vegetables, nuts and other agricultural commodities intended to be sold to the consumer as raw commodities
Key Target Audience
Ketchup manufacturers, Suppliers of ketchup subcomponents, Wholesalers, distributers and retailers of ketchup, Food industry, Governmental bodies, Research firms and End user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.